Rio Tinto Group (NYSE:RIO) Holdings Decreased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lessened its stake in Rio Tinto Group (NYSE:RIO) by 9.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,838 shares of the mining company’s stock after selling 423 shares during the period. Concurrent Investment Advisors LLC’s holdings in Rio Tinto Group were worth $226,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RIO. Fisher Asset Management LLC boosted its stake in Rio Tinto Group by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 17,528,095 shares of the mining company’s stock valued at $1,247,475,000 after purchasing an additional 485,731 shares in the last quarter. FMR LLC lifted its holdings in shares of Rio Tinto Group by 35.1% in the third quarter. FMR LLC now owns 1,381,766 shares of the mining company’s stock valued at $98,340,000 after buying an additional 358,630 shares during the period. Palliser Capital UK Ltd boosted its stake in Rio Tinto Group by 213.8% during the fourth quarter. Palliser Capital UK Ltd now owns 989,417 shares of the mining company’s stock valued at $58,188,000 after buying an additional 674,117 shares in the last quarter. Van ECK Associates Corp grew its holdings in Rio Tinto Group by 10.7% during the third quarter. Van ECK Associates Corp now owns 693,102 shares of the mining company’s stock worth $49,328,000 after acquiring an additional 67,213 shares during the period. Finally, SPX Gestao de Recursos Ltda raised its position in Rio Tinto Group by 1,773.2% in the third quarter. SPX Gestao de Recursos Ltda now owns 426,922 shares of the mining company’s stock worth $30,384,000 after acquiring an additional 404,131 shares in the last quarter. Institutional investors and hedge funds own 19.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on RIO shares. StockNews.com cut shares of Rio Tinto Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group reduced their price objective on Rio Tinto Group from $83.00 to $73.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Rio Tinto Group Trading Down 1.0 %

Shares of NYSE:RIO opened at $62.09 on Wednesday. The firm has a fifty day moving average of $60.65 and a two-hundred day moving average of $62.93. The company has a quick ratio of 1.16, a current ratio of 1.63 and a debt-to-equity ratio of 0.23. Rio Tinto Group has a 12-month low of $57.85 and a 12-month high of $74.24. The firm has a market capitalization of $77.80 billion, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 0.42 and a beta of 0.65.

Rio Tinto Group Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Thursday, April 17th. Shareholders of record on Friday, March 7th will be given a $2.23 dividend. This is a positive change from Rio Tinto Group’s previous semi-annual dividend of $1.77. This represents a yield of 7%. The ex-dividend date is Friday, March 7th. Rio Tinto Group’s dividend payout ratio is presently 54.73%.

Rio Tinto Group Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.